
Namibia’s central bank has successfully secured funds to redeem its $750 million Eurobond maturing on October 29, marking the nation’s largest-ever single debt repayment.
The Eurobond, issued in 2015, was designed to finance Namibia’s development agenda, support the national budget, and strengthen its balance of payments.
According to the Bank of Namibia, the total redemption value amounts to 13.5 billion Namibian dollars ($779 million), based on an exchange rate of 17.5 to the U.S. dollar.
“We have mobilised the full amount within the sovereign debt management strategy,” Governor Johannes !Gawaxab announced during a Monetary Policy Committee briefing.
He reaffirmed Namibia’s dedication to fiscal discipline and international credibility, saying, “When we issue paper, it’s a testament to our commitment to honour our promises. The country’s economic fundamentals remain sound.”
However, !Gawaxab cautioned that Namibia’s foreign reserves will contract as a result of the repayment, projecting a 25% decline—from 63 billion Namibian dollars in 2024 to 47 billion by the end of 2025.
Despite the expected dip, the central bank insisted that reserves remain solid, with measures underway to preserve financial stability. Efforts include exploring currency swap lines with other central banks and financial institutions to maintain liquidity and safeguard external obligations.
The Bank of Namibia expects reserves to recover modestly in 2026, reaching around 53 billion Namibian dollars.
Namibia’s ability to meet the Eurobond deadline underscores its resolve to uphold investor confidence and sustain macroeconomic stability amid tightening global financial conditions.